- 31 -
SRP
Retained Retention 1991 SRP Total
Executive Payment Benefit Interest Total Payment
Brink $1,014,453 0 0 0 $1,014,453
Denny 1,997,200 $728,977 $62,468 $791,445 2,788,645
Francis 703,839 358,854 30,751 389,605 1,093,444
Free 933,297 804,477 68,937 873,414 1,806,711
Garrett1 1,268,066 406,292 34,816 441,108 1,709,174
Hite 1,147,298 540,333 46,302 586,635 1,733,933
Kurczewski 982,997 367,304 31,475 398,779 1,381,776
Pugh 969,769 0 0 0 969,769
Richardson 705,290 426,642 36,560 463,202 1,168,492
Thompson 1,108,652 0 0 0 1,108,652
Williams 845,377 227,380 19,485 246,865 1,092,242
Total 11,676,238 3,860,259 330,794 4,191,053 15,867,291
1 Mr. Garrett was terminated by petitioner without “cause”, effective Dec. 31, 1992, and did not
enter into a 1992 Amendment. The figures for him are amounts paid under his 1991 Employment
Agreement as a result of his termination in December 1992.
The following table compares the Termination Awards payable
under the 1990 Employment Agreements had a Retained Executive
elected to terminate employment with petitioner during the June
1992 Window, the prorated Retention Payment payable at the
inception of the 1991 Employment Agreements, and the prorated
Retention Payment actually paid under the 1992 Employment
Agreements (except with respect to Mr. Garrett) in December 1992.
Termination Award Retention Payment Retention Payment
Retained Payable Under 1990 Payable at Inception of Paid in Dec. 1992
Executive Employment Agreement 1991 Employment Agreement Under 1992
Amendment
Brink $699,150 $910,224 $1,014,453
Denny 1,320,000 1,792,000 1,997,200
Francis 666,600 702,000 703,839
Free 646,200 837,406 933,297
Garrett 948,939 1,137,780 1 1,268,066
Hite 853,314 1,029,420 1,147,298
Kurczewski 773,202 854,000 982,997
Pugh 635,598 812,122 969,769
Richardson 531,000 644,448 705,290
Thompson 742,869 928,428 1,108,652
Williams 593,205 758,520 845,377
1 For Mr. Garrett, this figure was paid under his 1991 Employment Agreement as a
result of his termination in December 1992.
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